2024-11-13T12:06:11-06:00 2023-12-31 721396621 CARR RIGGS & INGRAM LLC 4004 SUMMIT BLVD NE SUITE 800 ATLANTA GA 30319 990 2023-01-01 462239585 ATLANTA WEALTH BUILDING INITIATIVE INC ATLA 4045371831 504 FAIR STREET SUITE 304 ATLANTA GA 30313 DR JANELLE WILLIAMS PHD CO-FOUNDER & CEO 4045371831 2024-11-07 1 1 TIFFANY T ORR CPA P10559478 7703948000 2024-11-07 2023 2024-10-15 13:58:12Z DR JANELLE WILLIAMS PHD 504 FAIR STREET SUITE 304 ATLANTA GA 30313 4008196 0 X WWW.ATLANTAWEALTHBUILDING.ORG X 2019 GA AT AWBI WE ARE ACTIVELY REIMAGINING ECONOMIC REALITIES TO PRODUCE AN OPPORTUNITY-RICH FUTURE FOR ALL. 13 13 12 13 0 0 2186982 3987970 0 0 0 0 0 20226 2186982 4008196 205000 579668 0 0 708595 1115448 0 0 141184 759125 887430 1672720 2582546 514262 1425650 2184441 3847847 4720 242476 2179721 3605371 X AT AWBI WE ARE ACTIVELY REIMAGINING ECONOMIC REALITIES TO PRODUCE AN OPPORTUNITY-RICH FUTURE FOR ALL. 0 0 1990597 579668 20226 OUR IMPACT SINCE 2018: $83,275,499 LEVERAGED & INFLUENCED FOR THE ATLANTA COMMUNITY ECONOMIC DEVELOPMENT AND SMALL BUSINESS ECOSYSTEM.$2,783,740 IN STRATEGIC PARTNERSHIPS, GRANTS, LOANS & TECHNICAL ASSISTANCELEAD.BUILD.INVESTBLACK WEALTH UNLOCKED: IN 2023, ATLANTA WEALTH BUILDING INITIATIVE LAUNCHED THE GROUNDBREAKING BLACK WEALTH UNLOCKED PODCAST WHICH DELVES DEEP INTO CONVERSATIONS WITH THOUGHT LEADERS, ENTREPRENEURS, FINANCIAL EXPERTS, AND COMMUNITY ACTIVISTS WHO ARE MAKING WAVES IN THE BLACK WEALTH MOVEMENT. EPISODES EXPLORE TOPICS LIKE ENTREPRENEURSHIP, GENERATIONAL WEALTH, ECONOMIC ORGANIZING, REAL ESTATE, AND MUCH MORE.BELOVED ECONOMIES REPORT: IN NOVEMBER 2023, ATLANTA WEALTH BUILDING INITIATIVE RELEASED ITS LANDMARK REPORT, "BUILDING A BELOVED ECONOMY: A BASELINE AND FRAMEWORK FOR BUILDING BLACK WEALTH IN ATLANTA." THE REPORT PROPOSES A NEW FRAMEWORK FOR UNDERSTANDING AND CONFRONTING THE MASSIVE RACIAL WEALTH DIVIDE AND ITS IMPACT ON BLACK ATLANTANS. IT ALSO PROVIDES AN OVERVIEW OF THE STATE OF BLACK WEALTH, POVERTY, INCOME, DEBT, ACCESS TO CAPITAL, HOUSING, BUSINESS OWNERSHIP, AND JOBS IN ATLANTA.BLACK COMMUNITY WEALTH: ATLANTA WEALTH BUILDING LAUNCHED THE BLACK COMMUNITY WEALTH NETWORK, A NATIONAL NETWORK POSITIONED TO BUILD A BROAD NETWORK OF PRACTITIONERS AND SUPPORTERS COMMITTED TO THE TASK OF BUILDING BLACK COMMUNITY WEALTH. THE PURPOSE OF THE BROADER BLACK COMMUNITY WEALTH NETWORK IS THREE-FOLD: TO SERVE AS A THINK TANK ON ISSUES CONCERNING BLACK COMMUNITY WEALTH BUILDING; TO CO-DESIGN STRATEGIES, BOLSTER CAPACITY, PROTOTYPE NEW IDEAS, AND CONDUCT RESEARCH IN SERVICE TO BLACK WEALTH-BUILDING; AND TO COLLECTIVELY CONTRIBUTE TO REDEFINING AND EXPANDING THE NOTION OF BLACK COMMUNITY WEALTH. SINCE ITS LAUNCH IN NOVEMBER 2023, THE BLACK COMMUNITY WEALTH NETWORK HAS ENGAGED WITH A DIVERSE GROUP OF 65 UNIQUE ORGANIZATIONS FROM VARIOUS DISCIPLINES.STRATEGIC PARTNERSHIPS: TO ADVANCE OUR STRATEGIC PRIORITIES, AWBI EFFECTIVELY AND TRANSPARENTLY HAS EVOLVED FROM A SMALL GRANTMAKING STRATEGY TO A MORE THOUGHTFUL AND STRATEGIC ALIGNMENT WITH PROGRAMMATIC, INVESTMENT/GRANTMAKING PARTNERS.1. PROCURE FORWARD: AWBI AND IBEX IT HAVE JOINED FORCES TO BOLSTER THE PROCUREMENT AND CONTRACTING CAPACITY OF COMMUNITY ECONOMIC DEVELOPMENT INSTITUTIONS AND BUSINESS-SERVING ORGANIZATIONS IN THE REGION. IBEX DEVELOPED A TRAIN-THE-TRAINER MODEL THAT WILL EQUIP THE END-USER WITH SPECIALIZED KNOWLEDGE AND SKILLS TO EFFECTIVELY TRAIN OTHERS IN THE PROCUREMENT PRACTICES, WHICH WILL ULTIMATELY DISSEMINATE BEST PRACTICES, ENSURE COMPLIANCE, AND IMPROVE EFFICIENCY ACROSS THE PROCUREMENT PROCESS IN THE PUBLIC AND PRIVATE SECTORS. THOSE PARTNERS INCLUDE AFCEA, NOW ACCOUNT, THE CITY OF COLLEGE PARK, THE CITY OF ATLANTA, AND AEROTROPOLIS. KEY RESULT: THIS EFFORT HAS RESULTED IN THE DEVELOPMENT OF A CURRICULUM DESIGNED AS A TOOL AND TRAIN THE TRAINER MODEL FOR BUSINESS-SERVING ORGANIZATIONS. GIVEN THIS APPROACH, AWBI BOLSTERS THE EXCELLENT DELIVERY OF CRITICAL AND TACTICAL TECHNICAL SERVICES PROVIDED BY PARTNERS WHO WORK DIRECTLY WITH BUSINESSES. 2. IN PARTNERSHIP WITH VILLAGE MICRO FUND FOR THEIR FALL 2023 COHORT OF THE FLOURISH FELLOWSHIP, AWBI SUPPORTED A COHORT OF ENTREPRENEURS WHO SUCCESSFULLY COMPLETED AN INTENSIVE 14-WEEK RETAIL BUSINESS DEVELOPMENT PROGRAM. AT THE GRADUATION OF THE EVENT, THE TOP BUSINESSES RECEIVED $75,000 (THREE $25,000 AWARDS) IN GRANT CAPITAL. THESE AWARDS WILL HELP BUSINESSES MOVE TO THE NEXT LEVEL OF SCALE AND PRODUCTION. WE ARE HAPPY TO REPORT THE FOLLOWING ACCOMPLISHMENTS THAT REFLECT THE GROWTH AND OPPORTUNITIES PROVIDED BY THE FLOURISH FELLOWSHIP: - 20 BUSINESSES ACCEPTED INTO THE RETAIL COHORT - 33% RECEIVED PROCUREMENT OPPORTUNITIES - 100% IMPROVED THEIR OPERATIONAL EFFICIENCY - 67% INCREASE IN REVENUE - 50% HIRED AT LEAST 1 EMPLOYEE - $208,000 AVG REVENUE FOR 2023 3. THROUGH A STRATEGIC PARTNERSHIP, THE GEORGIA MICRO ENTERPRISE NETWORK (GMEN) AND THE ATLANTA WEALTH BUILDING INITIATIVE (AWBI) PARTICIPATED IN THE FLEX FUND LOAN PROGRAM (FLEX FUND) ESTABLISHED BY LOCAL INITIATIVES SUPPORT CORPORATION (LISC) TO DEPLOY SMALL BUSINESS LOANS UNDER THE FLEX FUND LOAN PROGRAM TO PROVIDE UNDERSERVED SMALL BUSINESSES ACCESS TO CAPITAL. THE GOAL WAS TO STRENGTHEN AND EXPAND THEIR DEVELOPMENT IN GEORGIA THROUGH LENDING, TECHNICAL ASSISTANCE, AND JOINT OUTREACH ACTIVITIES WHILE SUPPORTING THE EXPANSION OF SMALL BUSINESSES. AWBI, WITH SUPPORT FROM GMEN HAVE BEEN ABLE TO DEPLOY 10 SMALL BUSINESS LOANS.IN 2024, AWBI WILL BEGIN IMPLEMENTING STRATEGIC PARTNERSHIPS WITH ORGANIZATIONS AND LEADERS ACROSS THE SOUTH THAT ARE DEDICATED TO BUILDING THE WEALTH OF BLACK PEOPLE. WHILE WE STRIVE TO IMPROVE OUTCOMES FOR BLACK PEOPLE, IT IS IMPORTANT WE PAY ATTENTION TO WHERE THEY LIVE. WITH ROUGHLY 55 PERCENT OF BLACK PEOPLE LIVING IN THE SOUTH, AND THE PRONOUNCED RACIALIZED ECONOMIC OUTCOMES THAT STUBBORNLY PERSIST IN THE REGION, IT IS IMPORTANT TO APPLY A TARGETED UNIVERSAL APPROACH TO FACILITATE THRIVING AND INCLUSIVE ECONOMIES. IF WE ASPIRE TO STIMULATE THRIVING COMMUNITIES, WE MUST INVEST IN THE SOUTH. 1990597 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X X X COURTNEY COLLINS 6784627336 504 FAIR STREET SUITE 304 ATLANTA GA 30313 ALAN FERGUSON BOARD MEMBER 2.00 X 0 0 0 DALE ROYAL BOARD MEMBER 2.00 X 0 0 0 JAMES WAHLS BOARD MEMBER 2.00 X 0 0 0 JON THOMPSON BOARD MEMBER 2.00 X 0 0 0 NONET SYKES BOARD MEMBER 2.00 X 0 0 0 RONNIE GALVIN BOARD MEMBER 2.00 X 0 0 0 TENE TRAYLOR BOARD MEMBER 2.00 X 0 0 0 WILL LAMBE BOARD MEMBER 2.00 X 0 0 0 JOLI COOPER BOARD MEMBER 2.00 X 0 0 0 ANNE KAISER BOARD MEMBER 2.00 X 0 0 0 AMY LANCASTER-KING BOARD MEMBER 2.00 X 0 0 0 RAY PENNIE BOARD MEMBER 2.00 X 0 0 0 AMY RUSSELL BOARD MEMBER 2.00 X 0 0 0 JANELLE WILLIAMS CO-FOUNDER & CEO 50.00 X 194061 0 30452 COURTNEY COLLINS COO 50.00 X 140438 0 1260 KIM ANDERSON INTERIM EXECUTIVE DIRECTOR 40.00 X 14562 0 0 ALEX CAMARDELLE VP OF POLICY AND RESEARCH 50.00 X 126466 0 12932 475527 0 44644 3 0 1 0 0 3987970 3987970 OTHER INCOME 900099 20226 20226 20226 4008196 20226 0 0 579668 579668 349060 239907 82311 26842 663059 455717 156354 50988 7955 5467 1876 612 22859 15711 5390 1758 72515 49839 17100 5576 138190 69095 69095 224193 216576 1983 5634 88920 75128 13792 84280 55318 28962 81175 62083 19092 85437 72104 13333 51498 43756 7742 14275 14275 3399 2889 510 DUES & SUBSCRIPTIONS 52735 36739 15357 639 FUNDRAISING EXPENSE 49135 49135 STAFF DEVELOPMENT 12471 10600 1871 MISCELLANEOUS 1722 1722 2582546 1990597 450765 141184 2128707 2559546 50000 1131545 107832 15747 5734 92085 0 64671 2184441 3847847 4720 168226 0 74250 4720 242476 X 566971 1693070 1612750 1912301 2179721 3605371 2184441 3847847 1425650 0 X X 0 1 X 1 0 X 1919839 2273444 2186982 3987970 10368235 1919839 2273444 2186982 3987970 10368235 4374041 5994194 20226 20226 10388461 1300 0.57700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44543 6324 38219 63289 9423 53866 92085 LEASE LIABILITY 74250 74250 X 4008196 0 4008196 0 4008196 2582546 0 2582546 0 2582546 PART X, LINE 2: UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE, THE ORGANIZATION IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. THE ORGANIZATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. THE ORGANIZATION UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXESUSING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2023 AND 2022, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. X 1 THINK IN INK GRANTS 309 EAST PACES FERRY RD NE SUITE 40 ATLANTA GA 30305 GRANT WRITING 0 0 58680 -58680 58680 -58680 1 VILLAGE MICROFUND 1679 OLYMPIAN WAY SW ATLANTA GA 30310 471748802 501(C)(3) 185000 0 1) TO SUPPORT AWBI'S SMALL BUSINESS RETAIL COHORT REGARDING THE DESIGN AND LAUNCH. 2) TO SUPPORT ADDITIONAL SMALL BUSINESSES ON THE WEST SIDE OF ATLANTA, TEACHING BUSINESS MODEL CANVAS, INTERPERSONAL BUSINESS SKILLS, HOW TO PITCH, AND INTRODUCE ENTREPRENEURS TO THE COMMUNITY WHILE CREATING A SUSTAINABLE COMMUNITY OF ENTREPRENEURS THROUGH OUR NEW CLASS AND ALUMNI. 3) TO SUPPORT THE LAUNCH OF THE DAO - DECENTRALIZED AUTONOMOUS ORGANIZATION. THE DAO IS A COMMUNITY-BASED COOPERATIVE MODEL THAT SEEKS TO DEMOCRATIZE HOW RESOURCES ARE ALLOCATED IN THE COMMUNITY. GEORGIA RESILIENCE AND OPPORTUNITY FUND 422 GLEN IRIS DRIVE ATLANTA GA 30308 871811721 501(C)(3) 50000 0 TO ESTABLISH AWBI'S SUPPORT OF THE REPARATIONS COLLABORATIVE IN ATLANTA. THE COLLABORATIVE IS BEING FACILITATED BY THE GEORGIA RESILIENCE AND OPPORTUNITY FUND (GRO). AWBI IS A MEMBER OF THE COLLABORATIVE, AND TOGETHER WITH OTHER COLLABORATIVE PARTNERS, WE HOPE TO ACCELERATE THE MOVEMENT TOWARDS REPARATIONS IN ATLANTA AND ACROSS THE REGION. COMMUNITY FOUNDATION OF GREATER ATL 191 PEACHTREE STREET NE SUITE 1000 ATLANTA GA 30303 581344646 501(C)(3) 67000 0 FOR COMPREHENSIVE RESEARCH REPORT DESCRIBING THE STATE OF BLACK WEALTH ATLANTA. EXEMPT ME NOW INC DBA RESILIA 3014 DAUPHINE ST STE H NEW ORLEANS LA 70117 831689096 9480 0 CREATION OF A PLATFORM FOR PARTICIPANTS IN AWBI'S TECHNICAL ASSISTANCE COHORT. IMPACT PRACTICE ADVISORS LLC 7465 STONEYKIRK CLOSE ATLANTA GA 30350 883648600 8280 0 CREATION OF AN ADVISORY ROLE WITH LEADERSHIP-STRATEGY AND IMPACT ON COHORTS. EXECUTIVE FINANCIAL PARTNERS LLC 1000 PARKWOOD CIR STE 900 ATLANTA GA 30339 825459324 50000 0 DELIVERING CUSTOMIZED, ACCESSIBLE, AND ACTIONABLE TECHNICAL ASSISTANCE TO BOLSTER ACCESS TO CAPITAL FOR BLACK-OWNED BUSINESSES. IBEX IT EXPERTS LLC 3295 RIVER EXCHANGE DR SUITE 550 NORCROSS GA 30092 454741180 209908 0 TO CURATE, DEVELOP, AND FACILITATE PROCUREMENT AND SUPPLIER DIVERSITY TRAINING CLASSES AND OTHER COMMUNITY KNOWLEDGE SHARING EVENTS. 3 4 X X 0 0 0 0 0 0 0 0 0 JANELLE WILLIAMS CO-FOUNDER & CEO 194061 0 0 0 0 0 4064 0 26388 0 224513 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS REVIEW THE POLICY ANNUALLY AND SIGN. FORM 990, PART VI, SECTION B, LINE 15 A SPECIAL COMMITTEE OF THE BOARD DETERMINES PAY FOR THE TOP MANAGEMENT OFFICIAL. THE CEO USES COMPENSATION REPORTS AND OTHER HR DATA TO DETERMINE OTHER SALARIES. A COMPENSATION STUDY WAS CONDUCTED AT THE END OF 2023. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.